Question

-

Principal p = 40960
Anual rat of Interest R = 12%
Time /period - 3 year
Find compound Interst​

Answer 1

Answer:

• Compound Interest = 16547.84 (Approx)

Step-by-step explanation:

Given:

• Principal Amount (P) = Rs. 40960
• Rate (r) = 12%
• Time (n) = 3 years

To Find:

• Compound Interest (CI)

Now, for finding Compound Interest first we have to find Amount.

=> Amount = P[1 + (r/100)]ⁿ

=> Amount = 40960[1 + (12/100)]³

=> Amount= 40960[(100 + 12)/100]³

=> Amount = 40960[112/100]³

=> Amount = 40960[1.12]³

=> Amount = 40960 × 1.404

=> Amount = Rs. 57507.84 (Approx)

Now, we know that

=> CI = Amount - Principal Amount

=> CI = 57507.84 - 40960

=> CI = 16547.84 (Approx)

Hence, Compound Interest = 16547.84 (Approx)

Answer 2

Answer:

$\frak{Given}\begin{cases}\textsf{Principal = Rs. 40,960}\\\textsf{Rate = 12\% p.a.}\\\textsf{Time = 3 years}\\\textsf{Compound Interest = ?} \end{cases}$

$\rule{150}{1}$

$\underline{\bigstar\:\:\textsf{According to the Question :}}$

$:\implies\sf CI=P\bigg[\bigg(1+\dfrac{r}{100} \bigg)^{t}-1\bigg]\\\\\\:\implies\sf CI=40960\bigg[\bigg(1+\dfrac{12}{100} \bigg)^{3}-1\bigg]\\\\\\:\implies\sf CI=40960\bigg[\bigg(1+\dfrac{3}{25} \bigg)^{3}-1\bigg]\\\\\\:\implies\sf CI=40960\bigg[\bigg(\dfrac{28}{25} \bigg)^{3}-1\bigg]\\\\\\:\implies\sf CI=40960\bigg[\dfrac{21952}{15625}-1\bigg]\\\\\\:\implies\sf CI=40960\bigg[\dfrac{21952 - 15625}{15625}\bigg]\\\\\\:\implies\sf CI=40960 \times \dfrac{6327}{15625}\\\\\\:\implies\sf CI = \dfrac{259153920}{15625} \\\\\\:\implies\underline{\boxed{\sf CI = Rs. \:16585.85}}$

⠀

$\therefore\:\underline{\textsf{Compound Interest on sum is \textbf{Rs. 16,585.85}}}$